Is VWELX a good ‘out of the market’ asset?

During a downturn or recession, whether it's dot com, TGR, covid, or 2022, what's your opinion of a good out-of-the-market asset? For example, VWELX Vanguard Wellington Fund back tests pretty well. Though I suspect this has to due with its bond holdings. SCHD Large cap Dividend fund also tests well because it has lower volatility than other dividend funds and provides stable income during downtimes. Any other thoughts for good ETFs during a down-turn besides cash or money market account?



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